Tishman Speyer unveils Dusseldorf skyscraper

News

Rachel Frampton

03 December 1999

The US developer is negotiating with neighbouring tenants over planning issues on the mixed scheme, which is close to the prime Königsallee

Tishman Speyer Properties has formed a joint venture with DeTe Immobilien to develop a 60,000m2 office and retail project, including a skyscraper, just off Dusseldorf’s famous Königsallee.

The US developer, which specialises in office towers and developed the Messeturm in Frankfurt, is currently in crucial negotiations with occupiers over right to light issues. In Germany, if neighbours object to a project they can allow a scheme to go ahead if they can agree compensation with the developer. Other occupiers close to the site include some of the country’s largest banks.

Half of TSP’s project would comprise offices while the remainder would be for retail uses despite fears that there would be too much retail space in the scheme. According to local agent Ignaz Trombello, head of Trombello Kölbel Immobilienconsulting: “No-one in the city believes there is room for so much retailing in this location.”

TSP’s partner, DeTe Immobilien, is Deutsche Telekom’s property arm. The link-up was announced at the Expo Real property fair in Munich.

Also in central Dusseldorf, TSP is renovating the 12,566m2 landmark Stahlhof building. TSP is in final lease negotiations with two tenants – a law firm and an advertising agency – for the scheme. According to senior managing director Gary Roth, the rents achieved will be in the “low DM40s a square metre [a month]”. It is currently the only existing block of office space in the city centre exceeding 5,000m2.

The company is also building a 40,000m2 office tower on one of the last remaining sites at La Défense in Paris.

And TSP has been chosen as the master developer of a new town at Alcorcón, on the M50 highway south west of Madrid. The first phase of this will be a technology park comprising 500,000m2.

Also close to Madrid, the US developer has acquired the last major land parcel in Parque Empreserial de Las Rozas, where it plans over 56,000m2 of office space. The site is 21km from the centre of the Spanish capital. Other uses at the site include residential and leisure and retail elements.

The US developer is negotiating with neighbouring tenants over planning issues on the mixed scheme, which is close to the prime Königsallee Tishman Speyer Properties has formed a joint venture with DeTe Immobilien to develop a 60,000m2 office and retail project, including a skyscraper, just off Dusseldorf’s famous Königsallee. The US developer, which specialises in office towers and developed the Messeturm in Frankfurt, is currently in crucial negotiations with occupiers over right to light issues. In Germany, if neighbours object to a project they can allow a scheme to go ahead if they can agree compensation with the developer. Other occupiers close to the site include some of the country’s largest banks. Half of TSP’s project would comprise offices while the remainder would be for retail uses despite fears that there would be too much retail space in the scheme. According to local agent Ignaz Trombello, head of Trombello Kölbel Immobilienconsulting: “No-one in the city believes there is room for so much retailing in this location.” TSP’s partner, DeTe Immobilien, is Deutsche Telekom’s property arm. The link-up was announced at the Expo Real property fair in Munich. Also in central Dusseldorf, TSP is renovating the 12,566m2 landmark Stahlhof building. TSP is in final lease negotiations with two tenants – a law firm and an advertising agency – for the scheme. According to senior managing director Gary Roth, the rents achieved will be in the “low DM40s a square metre [a month]”. It is currently the only existing block of office space in the city centre exceeding 5,000m2. The company is also building a 40,000m2 office tower on one of the last remaining sites at La Défense in Paris. And TSP has been chosen as the master developer of a new town at Alcorcón, on the M50 highway south west of Madrid. The first phase of this will be a technology park comprising 500,000m2. Also close to Madrid, the US developer has acquired the last major land parcel in Parque Empreserial de Las Rozas, where it plans over 56,000m2 of office space. The site is 21km from the centre of the Spanish capital. Other uses at the site include residential and leisure and retail elements.